Beijing-based used-car online auction platform Youxinpai has raised US$260 million series C round of financing led by private equity firm Warburg Pincus and New York-based investment firm Tiger Global Management LLC, according to a company announcement. Other undisclosed investors also participated in the round. Launched in 2011, Youxinpai previously raised two rounds of financing from… Continue reading Warburg Pincus, Tiger Global Lead $260M Series C In Youxinpai
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Faraday Future Reportedly Seeks $1B To Protect Itself From LeEco Cash Crunch
Faraday Future, a Los Angeles based smart electric car company backed by Jia Yueting, founder of Chinese technology conglomerate LeEco, is reportedly seeking a new funding round of US$1 billion from large-scale investors including sovereign wealth funds, according to media reports citing insiders. Jia Yueting, who previously injected roughly US$500 million of his own money… Continue reading Faraday Future Reportedly Seeks $1B To Protect Itself From LeEco Cash Crunch
Faraday Future Scraps $1 Billion Vegas Factory, Downshifts To California Cow Town
Faraday Future, the U.S.-based electric car startup founded by embattled Chinese entrepreneur Jia Yueting, today announced they have signed a lease for a future manufacturing facility for their high-performance electric, autonomous vehicle, named the FF91. But the new facility is not outside glitzy Las Vegas, as originally planned, but in Hanford, California, a hard-scrabble agricultural… Continue reading Faraday Future Scraps $1 Billion Vegas Factory, Downshifts To California Cow Town
Ofo Partners With China Telecom, Huawei To Improve Smart Bike Tech
Beijing-based bike sharing firm ofo has formed a partnership with China Telecommunications and Huawei Technologies Co. Ltd. to improve technology related to smart bikes, which has swept across the nation by storm lately. China Telecom will provide nationwide wireless Internet coverage for ofo, while Huawei will equip ofo bikes NB-IoT (narrow band Internet of Things)… Continue reading Ofo Partners With China Telecom, Huawei To Improve Smart Bike Tech
Baidu Rumored To Make $100M Investment In Chinese EV Start-Up NextEV
Chinese Internet firm Baidu Inc. is rumored to plan to invest US$100 million in NextEV, a Chinese smart electric vehicle start-up backed by top global investors including Singapore’s Temasek Holdings, private equity giant TPG and Sequoia Capital. Baidu is to participate in NextEV’s series C financing round, according to Chinese media reports citing insiders. Some… Continue reading Baidu Rumored To Make $100M Investment In Chinese EV Start-Up NextEV
Temasek Leads New Funding Round In Chinese Start-Up NextEV
NextEV has reportedly raised an undisclosed funding round led by Singapore’s Temasek Holdings, with participation from global private equity giant TPG, Chinese investment firm Hopu Investment Management and China’s Lenovo Group, according to Chinese media reports. The round is around several hundreds of millions U.S. dollars, says the reports citing confirmation by the company’s president… Continue reading Temasek Leads New Funding Round In Chinese Start-Up NextEV
EU authorizes Opel takeover by PSA
The European Commission has approved the acquisition of Opel by Peugeot. After a detailed examination, the authority claims to have no competition concerns, conditions will not exist. Peugeot Opel cars in front of a dealership Wednesday, 05.07.2017 5:32 pm The EU Commission has approved the takeover of the German car manufacturer Opel by the French… Continue reading EU authorizes Opel takeover by PSA
PSA boss Tavares wants to trim Opel on profits
In the middle of the talks about an Opel purchase, the French auto giant PSA is setting its margin targets high. CEO Tavares now wants to help the loss-making German manufacturer on its feet. The bar is high. PSA boss Carlos Tavares Thursday, 23.02.2017 10:04 The French carmaker PSA Peugeot Citroën is facing a possible… Continue reading PSA boss Tavares wants to trim Opel on profits
The hard consequences of the Blitzfusion
The purchase of Opel by Peugeot seems decided thing. Trade unions and politicians are still trying to win the French concessions to the Joberhalt. But there is no way around a hard renovation. Opel boss Karl Thomas Neumann Tuesday, 21.02.2017 10:53 clock Little time? At the end of the text there is a summary. The… Continue reading The hard consequences of the Blitzfusion
Rabenmutter
At Opel, it’s all about the whole thing: Just for the German GM daughter it was better again, because the Americans want to hit them again. How big is the damage this time? Wednesday, 15.02.2017 18:35 clock The tragedy of the automaker Opel shows up this week Friday in a small room. When it comes… Continue reading Rabenmutter